Adani Wilmar Ltd. has witnessed double-digit growth in both edible oil and food businesses during the fourth quarter of fiscal 2024, driven by increased retail penetration, festive demand from Holi and the wedding season.
During the quarter, the company recorded overall volume growth of 4%, the consumer goods business of billionaire Gautam Adani said in its quarterly business update on Friday. A significant decline in the export business of animal feed dragged down overall volume growth.
FY24 had lower edible oil prices as compared with the previous year, leading to lower revenue despite the growing volume, the company said.
Branded edible oil volume growth has been robust during the year, with 15% YoY growth during the quarter, as against an overall segment growth of 10%.
The food and FMCG segment revenue surged by 18% YoY during the quarter, and volume growth stood at 10%. For the year, the segment achieved the milestone of 1 million metric tonnes of sales and doubled its revenue to around Rs 4,700 crore.
Sales and volume of industry essentials declined in double digits.